Article 1 These Measures are formulated with a view to strengthening the administration of stock exchanges, clearly defining the powers and responsibilities of stock exchanges and main taianing normal order in securities markets.

Article 2 These Measures shall be applicable to the establishment of stock exchanges within the territory of the People's Republic of China.

Article 3 The stock exchanges referred to in these Measures mean legal entities of operation practicing self- disciplined membership system established pursuant to the qualifications prescribed by these Measures not for profit that provide sites and facilities for centralized and organized trading and perform the powers and responsibilities prescribed by relevant state laws, regulations, rules and policies.

Article 4 Stock exchanges shall be subject to the supervision and control of China Securities Supervisory and Control Commission ( hereinafter referred to as CSSCC ).

The stock registration settlement agencies established by the stock exchanges should accept the supervision and control of CSSCC.

Article 5 The name of a stock exchange should be marked by the letters "stock exchange". No other unit or individual shall use the name of "stock exchange".